Ahi-TECH infrared sensor firm has won £2 million investment from a consortium including Braveheart, the listed investment management company.

Pyreos specialises in developing the "next generation" of passive infrared sensors used in motion detectors. It can develop them more easily and cheaply than others currently on the market, which is estimated globally to be valued at more than £500m by 2012.

Pyreos was formed in Edinburgh last year when the patent for the technology was handed to former Microemissive Displays founder Jeff Wright.

The technology was initially produced by Munich-based Siemens AG, but was considered "non-core". Its venture fund, the Siemens Technology Accelerator, established an IP transfer agreement with Pyreos and as a result of the funding the transfer will take place over the course of the next year.

Scotland became the home of the IP following a review of suitable locations where the technology could be developed and commercialised.

Scottish Enterprise's inward investment team, as well as its Scottish Venture Fund, was involved in pulling together the key players and investors in what Braveheart CEO Geoffrey Thomson described as a joint effort.

He said: "Getting good IP, putting a team together, putting the money round it is real back-to-basics venture capital stuff. It's what it is all about. The business has ended up here as we've got good financing structures in place."

"There are a number of sophisticated electronics firms in Edinburgh such as Wolfson and Microemissive Displays. There is engineering talent here. Obviously money, facilities and resources are key things when you are trying to decide where to put a business."

Rudolf Freytag, CEO of Siemens Technology Accelerator, said: "In Scotland we found the ideal mix of strong investors, an excellent management team, and the right hi-tech infrastructure to support a new technology company. We are confident that the Pyreos technology will make an important difference in the infrared detector and camera markets."

The proceeds of the initial investment allow Pyreos to expand its technical and commercial operations, as well as enable product prototyping and manufacturing development.

Thomson confirms "there will be more money coming" as investor interest in the company is high. It is estimated the firm will take its products to market in a year's time.